GDP growth usually sounds like good news, but this report is more of a mixed bag. If the growth came from businesses investing and consumers spending, that’d be one thing. Instead, it’s propped up by fewer imports (which could signal weaker demand) and declining investment (a red flag for future productivity). So while the number looks okay on paper, the details suggest the economy might not be as strong as it seems.

The economy grew 3%, but mainly because imports collapsed. Alas, investment fell too.

The latest GDP numbers show the economy grew by 3%, but don’t break out the champagne just yet. The growth was mostly due to a sharp drop in imports—meaning we bought less from other countries—while domestic investment actually shrank. It’s a head-scratcher of a report that doesn’t paint a clear picture of economic health.